Taiwan to invest in NAND flash project

LONDON — Taiwan Innovation Memory Co., previously rejected as a suitable case
for government investment as a DRAM company, has reinvented itself as a NAND
flash supplier. The company is putting together a consortium of Taiwanese
companies and has received approval from the Ministry of Economic Affairs
(MOEA), according to reports.

The Taiwanese government is prepared to supply up to 40 percent of TIMC's
capital needs and the company would reveal a NAND flash memory technology by the
end of October, a Taipei Times report said quoting a MOEA official.

TIMC, headed by Hsuan Ming-chih, honorary chairman of United Microelectronics
Corp. had previously been charged with consolidating Taiwan's fragmented DRAM
industry. Originally, three Taiwan DRAM makers — Powerchip, ProMOS and Rexchip —
were supposed to combine their operations under TIMC with Elpida Memory Inc. of
Japan acting as an advanced technology and business partner. However, the
Taiwanese legislature declined to inject NT$8 billion (about $250 million) for a
plan based on DRAM.